Building on a Great Foundation
The Geelong Community Foundation has announced the achievement of a major milestone – breaking the $30 million mark after 21 years in Geelong.
Foundation Chair Hayden Torney said the achievement meant more grants could be made to local charities in the region.
“We are also pleased to announce that over $1 million in grants will be provided to organisations in the Geelong Region before the end of this financial year,” Mr Torney said.
“Despite the recession and income reduction caused by the pandemic, our strong growth has meant we can continue to meet the needs of our community today.
“The Foundation’s assets have increased from $26 million last financial year to over $30 million so far this year.
“This has been achieved by donations, gifts in wills and our investment performance.
“The Foundation makes grants effectively from the income of its corpus. The more the Foundation grows, the more grants can be distributed each year.
“It’s a wonderful asset for our community – a true foundation that we continue to build on to meet the growing needs of the broader Geelong area..
“I urge anyone who can – companies, individuals or families – to start their own named fund and join with us in making a real difference in our region,” said Mr Torney.